Gaza's economy has suffered a loss of $1.5 billion dollars this year from Israel's ongoing siege, and COVID-19 pandemic.

Iran PressMiddle East: The head of Gaza's National Committee for Breaking the Siege Jamal Al-Khudari stressed in a statement published Thursday that this year was the most dangerous due to Israel's ongoing blockade of the coastal enclave exacerbated by the outbreak of coronavirus.

Since June 2007, Gaza residents have been under a strict Israeli land, air, and sea embargo, which even hinders their access to medical care.

Under this oppressive siege, Israel has reduced the entry of goods to a minimum, while external trade and exports have been stopped except in very exceptional cases.

Moreover, the poverty rate jumped from 40 percent in 2007 to 56 percent in 2017, leaving more than one million Palestinians with no income.

Al-Khudari explained that the economic repercussions of the blockade and virus threaten the food security of almost 70 percent of families in Gaza, while more than 85 percent live below the poverty line.

The unemployment rate in the besieged Gaza Strip has risen further to 60 percent which has affected more than 350,000 workers directly and indirectly and led to the closure of several factories, companies, and workshops that had to lay off thousands of employees.

The Palestinian politician urged the free world to move quickly in a "moral, humanitarian and legal" manner to stand by and save Gaza, saying "the world should not wait for what is coming for the people of Gaza and urgent action and strong moves should be taken to save what is left to save."